Ireland: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Ireland

The Irish sunflower-seed and safflower oil market surged to $X in 2022, with an increase of 36% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed buoyant growth. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

Exports of Sunflower-Seed And Safflower Oil

Exports from Ireland

For the third consecutive year, Ireland recorded decline in shipments abroad of sunflower-seed and safflower oil, which decreased by 0% to X tons in 2022. Over the period under review, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 59% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, sunflower-seed and safflower oil exports amounted to $X in 2022. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 60% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

The UK (X tons) was the main destination for sunflower-seed and safflower oil exports from Ireland, accounting for a 84% share of total exports. Moreover, sunflower-seed and safflower oil exports to the UK exceeded the volume sent to the second major destination, the Czech Republic (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled +50.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (0.0% per year) and Italy (0.0% per year).

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to +49.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (0.0% per year) and Italy (0.0% per year).

Export Prices by Country

The average sunflower-seed and safflower oil export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price recorded a slight setback. The pace of growth appeared the most rapid in 2020 an increase of 24% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (-0.5%), while the prices for the other major destinations experienced a decline.

Imports of Sunflower-Seed And Safflower Oil

Imports into Ireland

Sunflower-seed and safflower oil imports into Ireland stood at X tons in 2022, therefore, remained relatively stable against the previous year. Overall, imports saw a moderate increase. The pace of growth was the most pronounced in 2020 when imports increased by 51% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, sunflower-seed and safflower oil imports totaled $X in 2022. In general, imports saw a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 40% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The Netherlands (X tons), the UK (X tons) and Belgium (X tons) were the main suppliers of sunflower-seed and safflower oil imports to Ireland, together accounting for 75% of total imports. Spain, France, Austria and Germany lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +197.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the UK ($X) and Spain ($X) were the largest sunflower-seed and safflower oil suppliers to Ireland, with a combined 75% share of total imports. Belgium, Austria, France and Germany lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Austria, with a CAGR of +164.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sunflower-seed and safflower oil import price amounted to $X per ton, approximately equating the previous year. In general, the import price continues to indicate a temperate expansion. The most prominent rate of growth was recorded in 2018 an increase of 10% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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